Congress Wealth Management LLC DE increased its holdings in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 2.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 124,192 shares of the industrial products company's stock after purchasing an additional 2,623 shares during the quarter. Congress Wealth Management LLC DE's holdings in Eaton were worth $41,216,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently bought and sold shares of the business. Flagship Wealth Advisors LLC purchased a new stake in shares of Eaton in the fourth quarter worth about $27,000. Noble Wealth Management PBC purchased a new position in Eaton in the 4th quarter worth approximately $30,000. Horizon Bancorp Inc. IN grew its position in Eaton by 321.7% in the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company's stock valued at $32,000 after acquiring an additional 74 shares in the last quarter. Morse Asset Management Inc acquired a new position in shares of Eaton during the third quarter worth $33,000. Finally, Activest Wealth Management boosted its stake in shares of Eaton by 621.4% in the fourth quarter. Activest Wealth Management now owns 101 shares of the industrial products company's stock valued at $34,000 after purchasing an additional 87 shares during the period. Hedge funds and other institutional investors own 82.97% of the company's stock.
Eaton Stock Performance
ETN stock traded down $6.86 on Friday, reaching $274.05. The company's stock had a trading volume of 3,254,157 shares, compared to its average volume of 2,537,860. Eaton Co. plc has a 52 week low of $255.65 and a 52 week high of $379.99. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. The company has a market capitalization of $107.37 billion, a P/E ratio of 28.85, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. The firm has a fifty day moving average of $305.90 and a two-hundred day moving average of $331.12.
Eaton (NYSE:ETN - Get Free Report) last released its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.82 by $0.01. Eaton had a return on equity of 22.62% and a net margin of 15.25%. During the same period in the previous year, the business earned $2.55 earnings per share. As a group, analysts predict that Eaton Co. plc will post 12.02 EPS for the current fiscal year.
Eaton Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 10th will be given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.52%. This is an increase from Eaton's previous quarterly dividend of $0.94. The ex-dividend date is Monday, March 10th. Eaton's payout ratio is 43.79%.
Analysts Set New Price Targets
A number of equities analysts have commented on the stock. Barclays cut their price objective on shares of Eaton from $325.00 to $315.00 and set an "equal weight" rating on the stock in a report on Wednesday. Citigroup lowered their price objective on Eaton from $440.00 to $410.00 and set a "buy" rating for the company in a research note on Monday, January 13th. JPMorgan Chase & Co. dropped their price objective on Eaton from $350.00 to $348.00 and set an "overweight" rating on the stock in a report on Wednesday, January 15th. Jefferies Financial Group reduced their price objective on Eaton from $390.00 to $335.00 and set a "buy" rating on the stock in a research note on Wednesday, March 12th. Finally, Melius Research reiterated a "hold" rating and set a $373.00 target price on shares of Eaton in a research note on Tuesday, January 28th. Eight equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, Eaton has a consensus rating of "Moderate Buy" and a consensus price target of $357.16.
Check Out Our Latest Report on Eaton
About Eaton
(
Free Report)
Eaton Corporation plc operates as a power management company worldwide. The company's Electrical Americas and Electrical Global segment provides electrical components, industrial components, power distribution and assemblies, residential products, single and three phase power quality and connectivity products, wiring devices, circuit protection products, utility power distribution products, power reliability equipment, and services, as well as hazardous duty electrical equipment, emergency lighting, fire detection, explosion-proof instrumentation, and structural support systems.
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